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Expat sues Nawaz, others for misuse of forex accounts

RECORDER REPORT

ISLAMABAD: Syed Nurul Huda Chaudhary, a UK-based Pakistani national has requested the Supreme Court to summon some of the former government's functionaries to answer the mis-use of foreign currency accounts.

In a new petition to the full bench headed by Chief Justice Saeeduzaman Siddiqui here on Monday, Chaudhary named the deposed prime minister Nawaz Sharif, his finance minister Sartaj Aziz and SBP former governor Dr Mohammad Yaqoob responsible for mis-use of FCAs.

The petitioner is a Pakistani resident in the United Kingdom and had invested $1.5 million in the foreign currency accounts that were frozen by the PML government in May, 1998.

Chaudhary is seeking Supreme Court direction for the refund of his investment in foreign currency or in rupees with the permission to repatriate it after buying dollars from the open market.

In his new petition he has referred to the statement made by Abid Manto, counsel for the State Bank of Pakistan at the last hearing that the previous government on various heads used over three billion dollars.

The Court did not pass any order on his new request as it adjourned the proceedings to February 7 to allow the Federal Minister seek an out of court settlement of the problem.